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Chevron's (CVX) president of Latin American operations says Argentina - not China - has the...

Chevron's (CVX) president of Latin American operations says Argentina - not China - has the world's second largest shale oil deposits after the U.S. Most of the world's shale gas has been developed from geological layers requiring horizontal drilling, but "everything is in a stack" at Argentina's Vaca Muerta formation, meaning CVX and YPF may be able to access the oil using vertical drilling techniques, CVX's Ali Moshiri says. (earlier)
Comments (3)
  • Herr Hansa
    , contributor
    Comments (3079) | Send Message
     
    The biggest issue is water access for running drilling projects. Many farmers and land owners are opposed to shale oil projects in Argentina due to a scarcity of water.

     

    The other issue is the current government in Argentina, though that may change in the future. At the moment policies have the potential to take Argentina towards another default, and more instability. Tough to invest in a country without a stable currency and financial markets.
    16 May 2013, 03:53 PM Reply Like
  • josemcc
    , contributor
    Comments (41) | Send Message
     
    also, do not forget the political instability of that country. which recently culminated with the nationalization of Repsol...
    17 May 2013, 12:23 AM Reply Like
  • williambaxter
    , contributor
    Comments (216) | Send Message
     
    Chevron(Std. Oil Cal) thrives on political intrigue. They've been doing it for years.. It's in their DNA.
    16 May 2013, 06:49 PM Reply Like
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